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Sep 30, 2023
NJR Q4 2023 Earnings Report
NJR's fourth-quarter earnings decreased compared to the same period last year.
Key Takeaways
NJR reported a decrease in net income for the fourth quarter of fiscal year 2023, with earnings of $37.0 million, or $0.38 per share, compared to $54.5 million, or $0.57 per share, in the same period of fiscal year 2022. The company's NFE also decreased to $29.6 million, or $0.30 per share, from $47.9 million, or $0.50 per share, in the prior year. However, fiscal year 2023 showed solid contributions from a diversified business portfolio.
Net income for Q4 2023 was $37.0 million, or $0.38 per share.
Net financial earnings (NFE) for Q4 2023 were $29.6 million, or $0.30 per share.
NJNG reported a net financial loss of $(24.8) million for Q4 2023.
CEV reported net financial earnings of $50.2 million for Q4 2023.
NJR
NJR
NJR Revenue by Segment
Revenue by Segment
Natural Gas Distribution Revenue
CapyFin.comClean Energy Ventures Revenue
CapyFin.com Forward Guidance
NJR introduced its fiscal 2024 NFEPS guidance range of $2.70 to $2.85, which represents 12.3% percent year-over-year growth over the midpoint of the originally provided fiscal 2023 guidance range of $2.42 - $2.52.
Positive Outlook
- Fiscal 2024 NFEPS guidance range of $2.70 to $2.85
- Represents 12.3% year-over-year growth over the midpoint of the originally provided fiscal 2023 guidance range of $2.42 - $2.52
- Energy Services will represent a higher percentage of NFEPS than in prior years
- New Jersey Natural Gas 40 to 45 percent
- Clean Energy Ventures 13 to 18 percent
Challenges Ahead
- Storage and Transportation 4 to 8 percent
- Energy Services 35 to 40 percent
- Home Services and Other 0 to 1 percent
- Differences between reported GAAP earnings and NFE due to matters such as, but not limited to, the positions of our energy-related derivatives.
- Management is not able to reasonably estimate the aggregate impact or significance of these items on reported earnings
Revenue & Expenses
Visualization of income flow from segment revenue to net income